Markets: FTSE 100 slips back

FTSE 100 down 0.3% to 6,136
Gold down 0.23% to $1,249.13/oz
£/$ 1.4484

Satellite operator Inmarsat was the day's biggest faller, down 4%; Tesco lost 1.5% and Vodafone was 1.4% lower. Royal Mail was the top performer, with a 4.3% rise.

In the US, the Dow Jones Industrial Average slipped 0.1% to 17,492, the S&P 500 lost 0.2% to 2,048, and the Nasdaq Composite was 0.1% lower at 4,765.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Overnight in Japan, the Nikkei 225 and the broader Topix index each fell 0.9% to 16,498 and 1,326 respectively. And in China, the CSI 300 lost 0.8% to 3,063 and the Shanghai Composite fell 0.8% to 2,821.

Brent spot was trading at $47.94 early today, and in New York, crude oil was at $47.71. Spot gold was trading at $1,243 an ounce, silver was at $16.20 and platinum was at $1,006.

In the forex markets this morning, sterling was trading against the US dollar at 1.4537 and against the euro at 1.2997. The dollar was trading at 0.8940 against the euro and 109.56 against the Japanese yen.

And in the UK, Kingfisher, owner of B&Q and Screwfix, reported a rise in sales for the last quarter. Total sales in the three months to 30 April grew by 5.1% to £2.72bn, while like-for-like sales rose by 3.6%. Total UK sales rose by 1.3% to £1.25bn, with like-for-like sales up by 6.2%.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.